December S&P Futures: The market is trading in the 1378-79 support zone as I write this. I think it will rally 10 to 15 points from here and then come back down and take a peek below this low. This basing process should last the rest of the week. When it is complete I still expect the market to rally into the 1418-20 resistance zone.
December Bonds: I think that the bonds are headed for 115. Support stands at 113-08.
December 10 Year Notes: The notes should rally to 110-16. Support stands at 108-20.
Euro-US Dollar: There is very strong resistance in the 131.50-132.00 zone. I think the next big move will be downward to 116 and below.
Dollar-Yen: I think the yen will find support near 115.00 and then resume its move to 121 and ultimately to 130.
January Crude: The 58.00 level remains support and I think the market will rally into the 62-63 range soon.
December Gold: I still think the market will make it up to 650 before and extended drop begins.
December Silver: I think we’ll see a 1360 print while gold rallies to 650 but in any case the next big move in silver will be downward.
Google: I expect Google to hold support around 485 and then resume its rally to 564.
2 comments:
Carl, PLEASE explain why you think this market will still see 1420-ish this year? Or if you already have, please point to the post?
Thanks very much.
Mr. R. G. Gromer
I think I did that in this post:
http://carlfutia.blogspot.com/2006/11/domed-house-update.html
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